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Life Trust launches new product to mitigate pension scheme longevity risk

Life Trust Insurance has announced that it is launching Longevity Risk Manager, a new product designed to help Defined Benefit Pension Schemes mitigate their longevity risk.

The company has noted that the new Longevity Risk Manager (LRM) pools the longevity risk of pension schemes and offers an attractive new alternative to trustees and finance directors otherwise faced with the significant capital outlay of a buy-out or buy-in.

Andy Briscoe, CEO of Life Trust, said: The two traditional methods of dealing with longevity risk, buy-outs and buy-ins, are simply untenable for many schemes because they involve prohibitive capital expenditure. We believe that the LRM provides a genuine alternative to these options, whilst at the same time protecting capital and allowing trustees to retain full control of their schemes.